Anyeep Completes Nearly RMB 100 Million Series A Financing to Accelerate Clinical Validation of Ultra-High-Performance Liquid Chromatography-Tandem Mass Spectrometry Systems

VCBeat has learned that Anypu (Suzhou) Medical Technology Co., Ltd. (“Anypu”) recently announced the completion of its nearly RMB 100 million Series A financing round. The round was led by Greenriver Investment, with participation from Dunhang Capital and Junshan Private Equity Fund of Funds. Existing investors FreeS Fund and YuanBio Venture Capital also increased their investments.

The funds raised in this round will be primarily used to advance the industrialization and medical device certification of the Company’s clinical ultra-high-performance liquid chromatography-tandem mass spectrometry (UHPLC-MS/MS) systems; accelerate the research and development of cutting-edge clinical mass spectrometry hardware, software, and core components; and expand the industrialization team as well as R&D office space.

Founded in 2016, Anyipu’s founding team brings over a decade of R&D experience in mass spectrometry. The company is committed to developing domestically produced mass spectrometers that match the highest international performance standards while offering exceptional cost-effectiveness, striving to break the monopoly held by European, American, and Japanese mass spectrometry companies.

In recent years, with the rapid advancement of clinical laboratory technologies, clinical mass spectrometry has emerged as a highly dynamic new technology in in vitro diagnostics and a new direction for precision medicine, leveraging advantages such as high specificity, high sensitivity, and multi-analyte simultaneous detection. As its adoption rate continues to rise, it is playing an increasingly important role in various clinical applications, including newborn screening for inherited metabolic disorders, vitamin testing, therapeutic drug monitoring, hormone assays, microbial identification, pharmacogenomic analysis, and trace element testing.

According to estimates by Zhongtai Securities, the mid-term potential market for clinical mass spectrometry in China is as high as RMB 30 billion. Currently, approximately 90% of the global mass spectrometer market share is dominated by industry giants from Europe, the United States, and Japan. For many years, domestic mass spectrometry manufacturers have lacked sufficient original research and development capabilities and industrialization experience. In particular, there is a shortage of high-end domestically produced mass spectrometry equipment that can meet the needs of clinical testing, which accounts for only about 5% of the domestic market share.

Leveraging nearly two decades of expertise in the research and development of core mass spectrometry technologies, combined with an industrial foundation marked by annual sales of over 100 units of its laboratory mass spectrometers,In 2022, the development of Anyeep TQ9100, a domestically produced triple quadrupole liquid chromatography-mass spectrometry (LC-MS/MS) system, was completed. The instrument is suitable for drug ADME studies, screening for food safety contaminants and environmental pollutants, targeted quantitative proteomics, and various clinical research applications. It delivers exceptional performance, with core components independently developed and manufactured in-house, ensuring high stability, reliability, sensitivity, and durability. The Anyeep TQ9100 has completed type testing for medical device registration and has entered the phase of clinical trial method validation.

Anyeep TQ9100 Source: Image provided by Anyeep

Anypu remains steadfast in its development of mass spectrometry technology because its core team believes that, as a high-end analytical technique, mass spectrometry can be deployed in space to decipher the origins of life, while also being extensively applicable to everyday scenarios such as public security, food safety and hygiene, clinical diagnostics, environmental protection, and biopharmaceuticals. By offering instruments with exceptional cost-performance ratios, Anypu is driving broader adoption of domestically produced mass spectrometers. In a market where imported instruments account for 90% of the share, Anypu is committed to deep specialization and craftsmanship, striving to build high-quality Chinese mass spectrometers.

Dr. Zhang Xiaohua, Founder of AllspekStatement: Among numerous analytical testing methods, mass spectrometry is a versatile technique widely adopted for its high specificity and sensitivity. Its detection capabilities span from elements and organic compounds to biological macromolecules such as peptides and proteins. In medical diagnostics, mass spectrometry is increasingly utilized due to its advantages, including high sensitivity, high specificity, high accuracy, wide linear dynamic range, the ability to simultaneously detect hundreds of compounds, and minimal sample requirements. It has become a key tool in achieving precision medicine. Anyeepu firmly believes in the trend of domestic substitution in the mass spectrometry sector and is committed to providing customers and partners with domestically produced mass spectrometers that offer exceptional cost-performance ratios and superior stability.

Yang Jianxing, Partner at Greenriver InvestmentIt is indicated that mass spectrometry, as one of the four major spectroscopic techniques, is not only indispensable in scientific research but also holds immense potential for development in clinical healthcare. Currently, 90% of the global market share for mass spectrometers is dominated by manufacturers from developed countries and regions such as Europe, the United States, and Japan, with China’s annual imports of mass spectrometers reaching approximately RMB 10 billion. Dr. Zhang Xiaohua’s team at Aiyipu has been dedicated to mass spectrometry R&D for many years, committed to developing domestically produced mass spectrometers with exceptional cost-performance ratios. The team has already developed triple quadrupole mass spectrometers that are comparable to imported products. We are highly optimistic about the team’s sustained innovation capabilities and firmly believe that the company will break through the monopoly held by foreign manufacturers in high-end analytical instruments, increase the localization rate of such equipment, and emerge as a leading force in the domestic mass spectrometry industry.

Ma Yangguang, Partner at Dunhang CapitalStatement: The global mass spectrometry market is monopolized by international industry giants. Aiyipu focuses on the research and development of mass spectrometers, with performance reaching international standards. The founding team has 20 years of experience in core technology R&D for mass spectrometry, holds multiple core patents, and masters key components. Suzhou Dunhang Investment Management Co., Ltd. is pleased to participate in this round of financing for Aiyipu, hoping to jointly promote the R&D of clinical mass spectrometry and achieve the localization of high-end instruments.

Dr. Ma Rui, Partner at FreeS FundIt was stated that mass spectrometry represents the most precise and sensitive scientific instrumentation, and is a critical high-end equipment sector where China faces technological bottlenecks, with a domestic production rate of less than 5%. FreeS Fund has expressed strong confidence in Dr. Zhang Xiaohua’s team at Anyipu, recognizing their dedicated investment in mass spectrometry technology and their deep engagement in building an independent and controllable supply chain, leading to multiple rounds of increased investment since the seed stage. The company’s various mass spectrometry products have gained simultaneous favor from diverse industry clients, including third-party testing laboratories, hospitals, and the military-industrial sector, due to their exceptional cost-performance ratio and high reliability. Congratulations to the company on completing this round of financing. We believe the company will soon deliver a comprehensive solution for clinical triple quadrupole mass spectrometry truly tailored to hospital scenarios, thereby creating more high-quality Chinese-made mass spectrometers.

Dr. Cheng Gang, Partner at YuanBio Venture CapitalIt is indicated that the application of mass spectrometry detection technology in the healthcare market has entered a phase of rapid development, with downstream application demands driving swift growth in the upstream mass spectrometry instrument market. In recent years, amid drastic changes in the international landscape, national policies have encouraged breaking the monopoly of imported products and achieving the domestic production of high-end scientific instruments. As a key clinical mass spectrometry instrument, the high-performance liquid chromatography-triple quadrupole tandem mass spectrometer urgently needs to overcome critical technological bottlenecks. The Aiyipu team has been deeply engaged in the mass spectrometry industry for many years, mastering core technologies and receiving numerous honors and awards, including the Second Prize of the National Science and Technology Progress Award. With successful experience in industrialization, the company ensures controllable costs for its mass spectrometers. Its independently developed liquid chromatography-mass spectrometry triple quadrupole mass spectrometer achieves sensitivity, signal-to-noise ratio, and stability at international levels. Currently in the clinical validation stage, it ranks among the industry’s top tier. In the future, it is poised to break the import monopoly, accelerate the substitution of high-end mass spectrometry instruments with domestically produced alternatives, promote the rapid adoption of clinical mass spectrometry testing in China, and further expand into broader blue-ocean markets such as therapeutic drug monitoring, toxicology testing, trace element analysis, and proteomics.

Anyipu was founded in 2016 by Dr. Zhang Xiaohua, a recipient of the Second Prize of the National Science and Technology Progress Award. Adhering to the philosophy of “meticulous craftsmanship to create high-quality Chinese mass spectrometers,” the company focuses on mass spectrometry technology research and instrument development, aiming to provide highly robust mass spectrometry equipment for diverse application scenarios. Currently, Anyipu has grown into a leading high-tech enterprise in China engaged in the development, manufacturing, sales, and service of instruments for chemical analysis and medical testing. Its product portfolio includes specialized mass spectrometers for medical diagnostics, laboratory mass spectrometers, and portable mass spectrometers, backed by internationally advanced technologies and multiple core patents.

Shanghai Greenriver Investment Co., Ltd., established in 2007, is an investment management firm specializing in early-stage venture capital and registered with the Asset Management Association of China. With cumulative assets under management exceeding RMB 3 billion, the firm focuses on biomedicine, new energy, new materials, semiconductors, and high-end manufacturing, providing capital and operational support to high-quality startup projects.

Dunhang Capital was established in 2017 as a professional investment management firm specializing in equity investments in technology-driven enterprises. With assets under management totaling approximately RMB 2 billion, the firm focuses primarily on the greater health sector, next-generation information technology, and advanced manufacturing. Geographically, it is headquartered in Suzhou and maintains a deep presence in the Yangtze River Delta region. The Dunhang Capital management team possesses extensive experience in equity investment, enabling it to provide comprehensive value-added services to portfolio companies and grow alongside them.

Junshan Private Equity Fund of Funds is a market-oriented fund of funds in China, established in 2013. Adhering to the philosophy of scientific asset allocation, it is committed to fostering the growth of science and technology innovation enterprises through long-term, patient, and supportive engagement. Currently, Junshan manages approximately RMB 40 billion in assets and has established close partnerships with leading fund managers such as IDG Capital, Matrix Partners China, ZhenFund, Gaorong Capital, Legend Capital, Lilly Asia Ventures, Huachuang Capital, and FreeS Fund. Its portfolio covers nearly 6,000 high-growth companies both domestically and internationally, with over 85% operating in strategic emerging industries. Junshan has now become one of the leading privately operated private equity funds of funds in China.

FreeS Fund is a full-chain fund management company driven by early-stage investments, with active layouts in growth-stage and late-stage ventures. Focusing on three major sectors—consumer and TMT, hard technology, and biomedicine—FreeS Fund has invested in over 150 innovative enterprises, covering areas such as lifestyle, culture and entertainment, intelligent manufacturing, biotechnology and new drug R&D, new energy, and new materials.

FreeS Fund is research-driven, encourages innovation, and has developed its own systematic investment strategy—seeking unique investment opportunities in interdisciplinary fields. We believe that interdisciplinary studies represent the most promising direction and opportunities for technological innovation, as breakthrough innovations often occur at the intersections of scientific disciplines.

YuanBio Venture Capital is an investment firm focused on early-stage and growth-stage companies in the healthcare sector. Headquartered in Suzhou BioBAY, it maintains a global reach. To date, YuanBio has invested in over 160 outstanding life sciences and healthcare companies, covering four key areas: novel drug development, medical devices, in vitro diagnostics (IVD) and precision medicine, as well as healthcare services. The firm has achieved substantial investment returns, with 16 of its portfolio companies having gone public on capital markets such as the Hong Kong Stock Exchange and the STAR Market. YuanBio has been repeatedly recognized as one of the Top 10 venture capital funds in China’s healthcare sector and as one of the most active healthcare investment institutions in China. By bringing together seasoned professional investors and a team of world-class scientific advisors, YuanBio possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry and beyond. Leveraging our professionalism, focus, and abundant industry resources, we are committed to becoming one of the most successful healthcare venture capital funds in China.